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How is it that where the term 'oil' occurs, it's turmoil?
Nations with an abundance of this resource, are prone to the often eventual result, seen mostly in the Arab world: Turmoil. It is concluded therefore, that investment in oil, can only go along with an equal investment in turmoil. This is most accurate where politics is more complicated. Take for instance Nigeria; it differs a whole lot from Iraq; KSA or Venezuela. While there's the question of rebel movements in Nigeria, rising every now and then against the foreign and domestic exploits of the nation's riches, things are so different in Iraq, where the country is being contested by its own people while others plunder. Saudi Arabia on the other hand, is kept on alert by the sustenance of regional threats, mainly the Iranian one, to keep its purchase of Western arms in the high; this of course, counting for prices of Saudi oil going west.
Venezuela? The U.S. has for years now been so worried about "democracy" there; no wonder why. Today on Yahoo homepage, it is reported that "Venezuela's proven crude reserves have risen to 296.5 billion barrels, surpassing Saudi Arabia's more than 264.5 billion barrels, the Organization of Petroleum Exporting Countries said in its annual statistical report issued last week."
Now two Arab countries rise to the forefront: Libya and Lebanon. Libya's oil has long been going westward in well-discounted prices (which may well go even lower after the issue of Gaddhafi is exhausted and he's gone). Lebanon, however, steps in as the newest member of the oil club. For this, we're yet to see the consequences, once the rigs start drilling - if at all they'll be allowed to, as now Israel contests the Lebanese rights to marine fields within Lebanese waters. With Syria now in the violent chaos of bloodbaths, we're yet to see how this turmoil is to be devised in the obvious Western approach for the new Mediterranean oil.
So, preoccupy them with turmoil, and get their oil. Is this not how the deal goes?
2 Answers
- OreoLv 710 years agoFavorite Answer
The US drills enough oil for our selves if they would start using all the trillions of feet of natural gas we have that burns better with better gas mileage. The EPA fights against anything we do to promote it >>they are bought by the big oil companies. EPA needs tossed out as Ron Paul has said.
Source(s): Facts - nathan fLv 610 years ago
Both Canada and Norway (North Sea) are major oil producers and I don't see a lot of turmoil there.
Like any natural resource, as we use it up we have to go farther to get it. From 1880 till 1960 the US was the world's largest oil producer, but we used it up. The same goes for gold. It used to come from California, then Alaska, now New Guinea.